What documents do I need to get a loan?
A Recent Passport Photograph, A vaild ID, Utility Bill, Your BVN and Statement of Account.
How long will it take to get my loan disbursed?
It takes 24hrs after documents have been submitted.
Can a loan application be rejected?
Yes, it can, if it doesn’t meet the set criteria of the type of loan.
What is Paylogue’s Interest rate?
There is no fixed interest rate on a loan. The interest rate is dependent on different factors such as the loan amount, tenor, current salary etc.
What happens when I don’t pay on my agreed date?
We do not encourage loan default, but where it happens applicable terms and conditions in the agreed offer letter are applicable which may include penal charges, default interest rate and inability to access loans in future amongst others
What collaterals do I need to obtain a loan?
You do not need any collateral for some certain types of loans at Paylogue.
Why does Paylogue need my BVN?
It is a CBN policy applicable to financial institutions as part of KYC requirements.
How soon will I need to pay my loan back?
Loan repayment is usually between 1 – 3 months.